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Alabbar-led group's US$1.8b Americana deal collapses

Mon, May 30, 2016 - 5:50 AM

A Dubai-based investor group led by Emaar Properties PJSC chairman Mohamed Alabbar (pictured) failed in its attempt to buy a 69 per cent stake in Middle Eastern fast-food operator Kuwait Food Co, the latest twist in an on-off sale process stretching back at least two years.

PHOTO: REUTERS

Dubai

A DUBAI-based investor group led by Emaar Properties PJSC chairman Mohamed Alabbar failed in its attempt to buy a 69 per cent stake in Middle Eastern fast-food operator Kuwait Food Co, the latest twist in an on-off sale process stretching back at least two years.